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Acacia Mining’s minority shareholders have expressed disapproval of Barrick Gold’s US$285 million offer to take full control of the company, as the Canadian giant aims to resolve a long-standing tax dispute in Tanzania.
Barrick currently owns 63.9% of Acacia, and its all-share offer values the company...

Five Kenyan banks have launched a pilot lending service via mobile phone for the benefit of the country’s small and medium-sized business, the central bank announced on Monday.
KCB Bank Kenya, Commercial Bank of Africa Limited (CBA), Cooperative Bank of Kenya, Diamond Trust Bank and NIC...

Total SA’s chief executive Patrick Pouyanne has said his company’s planned acquisition of US oil firm Anadarko’s African assets is ‘perfectly fitting’ with its overall strategy.
The French energy giant agreed to buy all of Anadarko’s oil & gas assets outside the US for US$8.8 billion,...

The world’s biggest platinum mining companies will meet with South Africa’s labour unions this month to negotiate a three-year wage deal, in one of the first tests of Cyril Ramaphosa’s new presidency.
Ramaphosa’s African National Congress (ANC) clinched South Africa’s general election last week by its...

South African construction giant Group Five has placed three of its biggest subsidiaries up for sale as the company looks to salvage what it can from bankruptcy proceedings.
David Lake, one of the Johannesburg-based company’s business rescue practitioners, said in an interview that Intertoll Europe, a...

TSX-V-listed Alphamin Resources has begun hot commissioning its Bisie tin mine in the rainforest of North Kivu, Democratic Republic of Congo (DRC).
Bisie is considered one of the world’s highest grade tin deposits, with an updated feasibility indicating that the mine could produce 152,300 tonnes of...

The energy minister of Guinea has announced that the country expects to boost its energy production capacity nearly four-fold over the next six years, as it pushes mining companies to refine their bauxite locally.
Guinea is Africa’s biggest producer of the aluminum ore and has recently...

A strong performance by the agricultural industry helped Kenya’s economy expand by 6.3% last year, according to latest figures from the Kenya National Bureau of Statistics (KNBS).
Adequate rainfall over the course of the wet season boosted the sector, a mainstay of the Kenyan economy, following...

Jumia Technologies has listed on the New York Stock Exchange (NYSE), becoming the first African startup to list on a major global exchange.
Shares in the e-commerce company, dubbed ‘the Amazon of Africa’, began trading at an opening price of US$18.95 under the ticker JMIA, but...

The World Bank has cut its 2019 growth forecast for sub-Saharan Africa to 2.8% from an initial 3.3%, citing a decline in industrial production and the impact of a trade dispute between the US and China.
The bank’s 2019 forecast means that economic growth will remain...